The new technology trends emerging in the industry has certainly made the landscape fertile for the prominent VCs of the present era. Mobility, Cloud, and Big data are three of the latest trends that have changed the dynamics of doing business altogether, out of which Mobility has garnered eminent global attention from companies and investment markets. In confluence with Mobility, Cloud is also becoming a protagonist. Both are becoming the source and warehouse for data generation and storage. Since accumulated data is the source that enables leaders to formulate plans and respective refurbishments, theses technologies hold astounding potential and opportunities because of their eminence in collecting the valuable data.
As the aforementioned trends are shaping the industry with their facets today, Internet of Things is getting ready to disrupt the future vehemently. The chip and Bluetooth manufacturers, mobile and sensing devices are laying the foundation of IoT as their growth is enunciated by the huge investments they are receiving from the VCs around the globe. In comparison with Mobility, Cloud, and Big data, IoT with its 50 million devices will generate a slew of data, which will allow large enterprises as well as small businesses to get better insights into the different ways consumers are interacting with the brand and how the consumers are consuming particular product or service. Healthcare will become smart in terms of managing and catering the patients, automobile will become more streamlined with better power and electricity consumption. Similarly, banking, financial services, insurance, and many other verticals and brands will also leverage the proficiency of IoT, mobile and cloud technology to become more prominent in the future.
Innovation is a broad word. It requires patience, and trust within to ensure a successful turn out of events. Back in 2007, the SME market in India were reluctant to use cloud and dropbox for storing their essentials but as the time traverses, cloud adoption in India specially in the SME market has become main stream and acceptable for its superlative attributes.
Lesson for the Entrepreneurs
It's a tough task being an entrepreneur in the current business paradigm. With plethora of entrepreneurs striving in the vicinity, it is an arduous task to make investors believe in the uniqueness of their dreams. The most imperative thing entrepreneurs have to keep in mind while starting their venture is to have faith in their ideas. The emerging leaders should be aware of the different types of risks that involves while starting a business such as risk of garnering profit, which is scant in the earlier stages. There are some entrepreneurs who seek validation for their venture plans from others. To believe in the dream is a splendid virtue but bringing ego before the beginning of the business is a dire mistake one can make. It is a constant struggle in series A and series B rounds where a recently founded startup could get acquired by big corporations anytime. Therefore, it is wise not to get carried away in emotions as it's a long path that will test an entrepreneur in every way possible.(As told to Shahina Islam)